Which is better? Financing a new car? Or paying cash for a used car?
Financing a new car, it's going to spend more money from the bank (full coverage insurance plus car payment). Buying a used car with cash, no interest charges and only liability coverage insurance. Which is a better deal?
Not an American made car by the way, just a foreign one. Ex. Hyundai.
I've paid 1k for a great car before, but it'd never happen again.
I just need to find another great Chrysler mechanic!
Both have their advantages and disadvantages.
If you just pay cash it's a lot simplier. You give them your money and you just bought a car and that's it. You don't have to worry about payments or anything like that. Only real negative is the upfront price tag.
If you finance you now have a new bill you have to pay every month and you'll be paying interest. But, $200, or however much, is alot cheaper than 6,000. You'll also have more freedom in choosing the car you want. Say you have 6,000 for a car but you go and find one that's 7000 that you love. You wont be able to pay for it, but you might be able to finance it for another $30 a month. The other advantage to financing is that it could help your credit rating if you keep up with the payments.
